StockNews.com Initiates Coverage on PowerFleet (NASDAQ:PWFL)

Investment analysts at StockNews.com began coverage on shares of PowerFleet (NASDAQ:PWFLGet Rating) in a report issued on Thursday. The firm set a “hold” rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Barrington Research cut shares of PowerFleet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 10th. Canaccord Genuity Group reduced their price target on shares of PowerFleet from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, May 11th. Lake Street Capital reduced their price target on shares of PowerFleet from $9.00 to $7.00 in a research report on Thursday, March 10th. Finally, Canaccord Genuity Group reduced their price target on shares of PowerFleet from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, March 10th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.33.

Shares of PowerFleet stock opened at $2.15 on Thursday. The business has a 50-day moving average of $2.42 and a 200-day moving average of $3.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.91 and a quick ratio of 1.45. The company has a market capitalization of $77.67 million, a PE ratio of -3.84 and a beta of 1.73. PowerFleet has a 1-year low of $2.13 and a 1-year high of $7.38.

In other PowerFleet news, Director Charles Frumberg sold 11,716 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $2.24, for a total value of $26,243.84. Following the transaction, the director now owns 27,699 shares of the company’s stock, valued at $62,045.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.30% of the company’s stock.

Several large investors have recently made changes to their positions in PWFL. Engineers Gate Manager LP acquired a new stake in shares of PowerFleet in the first quarter valued at approximately $39,000. Precision Wealth Strategies LLC increased its stake in shares of PowerFleet by 9.9% in the first quarter. Precision Wealth Strategies LLC now owns 53,870 shares of the company’s stock valued at $160,000 after purchasing an additional 4,856 shares during the period. Riverwater Partners LLC acquired a new stake in shares of PowerFleet in the fourth quarter valued at approximately $176,000. Advisor Group Holdings Inc. increased its stake in shares of PowerFleet by 66.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 56,600 shares of the company’s stock valued at $268,000 after purchasing an additional 22,645 shares during the period. Finally, Options Solutions LLC acquired a new stake in shares of PowerFleet in the fourth quarter valued at approximately $295,000. Institutional investors own 68.25% of the company’s stock.

PowerFleet Company Profile (Get Rating)

PowerFleet, Inc provides wireless Internet-of-Things asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.

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